Euro$ interest rate options: another flurry of activity Euro$ interest rate options: another flurry of activity included some heavier put structures such as a bearish purchase of 15k in September 87/90 put spreads. There was a 10k purchase of Red June vs sale of Short June 85 put spreads, a bullish purchase of 8k in Green March 78/80 call spreads and a liquidation of 2.5k in Short January 85/87 put 1x2s. March 2015s are flat at 99.7050, with the deferreds as much as 12-ticks lower out the back as the Fed trajectory is reassessed in the wake of yesterday's convoluted statement.
FX Action: USD-CAD remains over 1.1600 FX Action: USD-CAD remains over 1.1600 after topping out near 1.1630. The pairing has found support on the back of softer oil prices through the morning, though talk of standing offers in place from 1.1650 to 1.1700 are expected to cap gains going forward. Rumors of Repsol/Talisman backed selling interest remains in the market today.